0/ Solid post from @AleksSvetski about the SoV hypothesis. He lays out the SoV nicely, and (if not pedantically) articulates why the utility hypothesis is incorrecthttps://hackernoon.com/bitcoin-btc-bitcoin-cash-bch-part-1-dbf9fc69d687 …
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Yes I find them to be not very useful Software + opportunity for true competition changes everything
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Money has competed ‘truly’ for millenia. These are moneys enabled by software. You consistently overplace importance on software and underplace importance on monetary characteristics. Too much a16z podcasts and SaaS blogs. Not enough Menger, Hayek, Szabo.
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Everytime software hits something that previously existed, it reshapes that thing in ways that never made sense before
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Economic law still exists though
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There are no economic laws that dictate how you get billions of people to adopt a new piece of technology
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Economically people want to select the money that is most saleable. they will tend to choose the money that best stores their value through time and space. Bitcoin superiority in saleability is what we believe drives adoption.
End of conversation
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